GreenPoint MortgageSecurities Inc. GreenPoint Home Equity Loan Trust 2003-1 Home Equity Loan Asset-Backed Notes
EXHIBIT 10.1
| THE BANK OF NEW YORK | Distribution Date: 7/15/03 | |||
| 101 Barclay Street, 8 West | ||||
| New York, NY 10286 | ||||
| Officer: Trish O’Neill-Manella | 212 ###-###-#### | |||
| Associate: Cirino Emanuele | 212 ###-###-#### |
GreenPoint Mortgage Securities Inc.
GreenPoint Home Equity Loan Trust 2003-1
Home Equity Loan Asset-Backed Notes
Series 2003-1
Certificateholder Monthly Distribution Summary
| Class | Cusip | Class Description | Certificate Type | Beginning Balance | Pass Through Rate (%) | Principal Distribution | Interest Distribution | Total Distribution | Current Realized Losses | Ending Balance | Cumulative Realized Losses | |||||||||||
| A | 395385AP2 | Senior | Var-Act/360 | 279,569,053.72 | 1.450000 | 12,187,277.70 | 326,552.19 | 2,513,829.89 | — | 267,381,776.02 | — | |||||||||||
| R | Senior | Fix-30/360 | — | 0.000000 | — | — | — | — | — | — | ||||||||||||
| Totals | 279,569,053.72 | 12,187,277.70 | 326,552.19 | 12,513,829.89 | — | 267,381,776.02 | — | |||||||||||||||
Principal Distribution Detail
| Class | Cusip | Original Certificate Balance | Beginning Certificate Balance | Scheduled Principal Distribution | Accretion Principal | Unscheduled Principal Adjustments | Net Principal | Current Realized Losses | Ending Certificate Balance | Ending Factor | ||||||||||
| A | 395385AP2 | 290,418,000.00 | 279,569,053.72 | 12,187,277.70 | — | — | 12,187,277.70 | — | 267,381,776.02 | 0 ###-###-#### | ||||||||||
| R | — | — | — | — | — | — | — | — | 0.00000000000 | |||||||||||
| Totals | 290,418,000.00 | 279,569,053.72 | 12,187,277.70 | — | — | 12,187,277.70 | — | 267,381,776.02 | ||||||||||||
Interest Distribution Detail
| Class | Beginning Certificate Balance | Pass Through Rate (%) | Accrued Optimal Interest | Cumulative Unpaid Interest | Deferred Interest | Total Interest Due | Net Prepayment Int Shortfall | Unscheduled Interest Adjustment | Interest Paid | |||||||||
| A | 279,569,053.72 | 1.450000 | 326,552.19 | — | — | 326,552.19 | — | — | 326,552.19 | |||||||||
| R | — | 0.000000 | — | — | — | — | — | — | — | |||||||||
| Totals | 279,569,053.72 | 326,552.19 | — | — | 326,552.19 | — | — | 326,552.19 | ||||||||||
Current Payment Information
Factors per $1,000
| Class | Cusip | Original Certificate Balance | Beginning Cert. Balance | Principal Distribution | Interest Distribution | Ending Cert. Balance | Pass Through Rate (%) | |||||||
| A | 395385AP2 | 290,418,000.00 | 962 ###-###-#### | 41 ###-###-#### | 1 ###-###-#### | 920 ###-###-#### | 1.450000 | |||||||
| R | — | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000 | ||||||||
| Totals | 290,418,000.00 | 962 ###-###-#### | 41 ###-###-#### | 1 ###-###-#### | 920 ###-###-#### | |||||||||
| Pool Level Data | ||||
| Distribution Date | 7/15/2003 | |||
| Cut-off Date | 5/1/2003 | |||
| Determination Date | 7/1/2003 | |||
| Accrual Period 30/360 | Begin | 6/1/2003 | ||
| End | 7/1/2003 | |||
| Number of Days in 30/360 Accrual Period | 30 | |||
| Accrual Period Actual Days | Begin | 6/16/2003 | ||
| End | 7/15/2003 | |||
| Number of Days in Actual Accrual Period | 29 | |||
Collateral Information
| Group 1 | ||
| Cut-Off Date Balance | 287,542,470.48 | |
| Beginning Aggregate Pool Stated Principal Balance | 278,028,313.69 | |
| Ending Aggregate Pool Stated Principal Balance | 267,060,807.64 | |
| Beginning Aggregate Certificate Stated Principal Balance | 279,569,053.72 | |
| Ending Aggregate Certificate Stated Principal Balance | 267,381,776.02 | |
| Beginning Aggregate Loan Count | 6673 | |
| Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement | 305 | |
| Ending Aggregate Loan Count | 6368 | |
| Beginning Weighted Average Loan Rate (WAC) | 7.108071 | % | |
| Ending Weighted Average Loan Rate (WAC) | 7.083576 | % | |
| Beginning Net Weighted Average Loan Rate | 6.601071 | % | |
| Ending Net Weighted Average Loan Rate | 6.576576 | % | |
| Weighted Average Maturity (WAM) (Months) | 209 | ||
| Aggregate Pool Prepayment | 7,561,444.47 | ||
| Pool Prepayment Rate | 28.4692 CPR | ||
| Certificate Account | |||
| Beginning Balance | — | ||
| Deposit | |||
| Payments of Interest and Principal | 12,668,847.95 | ||
| Liquidation Proceeds | — | ||
| All Other Proceeds | — | ||
| Other Amounts | — | ||
| Total Deposits | 12,668,847.95 | ||
| Withdrawals | |||
| Reimbursement of Servicer Advances | — | ||
| Payment of Master Servicer Fees | 115,845.13 | ||
| Payment of Sub Servicer Fees | — | ||
| Payment of Other Fees | — | ||
| Payment of Insurance Premium(s) | — | ||
| Payment of Personal Mortgage Insurance | — | ||
| Other Permitted Withdrawal per the Pooling and Service Agreement | 39,172.93 | ||
| Payment of Principal and Interest | 12,513,829.89 | ||
| Total Withdrawals | 12,668,847.95 | ||
| Ending Balance | — | ||
Delinquency Information
| Group 1 | ||||||||||||||||||
| Delinquency | 30-59 Days | 60-89 Days | 90-179 Days | 180-269 Days | 270+ Days | Totals | ||||||||||||
| Scheduled Principal Balance | 2,430,636.86 | 499,349.07 | 752,277.55 | — | — | 3,682,263.48 | ||||||||||||
| Percentage of Total Pool Balance | 0.910144 | % | 0.186980 | % | 0.281688 | % | 0.000000 | % | 0.000000 | % | 1.378811 | % | ||||||
| Number of Loans | 59 | 13 | 0 | 0 | 10 | 82 | ||||||||||||
| Percentage of Total Loans | 0.926508 | % | 0.204146 | % | 0.000000 | % | 0.000000 | % | 0.157035 | % | 1.287688 | % | ||||||
| Foreclosure | ||||||||||||||||||
| Scheduled Principal Balance | 334,683.38 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.125321 | % | ||||||||||||||||
| Number of Loans | 8 | |||||||||||||||||
| Percentage of Total Loans | 0.125628 | % | ||||||||||||||||
| Bankruptcy | ||||||||||||||||||
| Scheduled Principal Balance | 12,259.68 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.004591 | % | ||||||||||||||||
| Number of Loans | 1 | |||||||||||||||||
| Percentage of Total Loans | 0.015704 | % | ||||||||||||||||
| REO | ||||||||||||||||||
| Scheduled Principal Balance | — | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Number of Loans | 0 | |||||||||||||||||
| Percentage of Total Loans | 0.000000 | % | ||||||||||||||||
| Book Value of all REO Loans | — | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Current Realized Losses | — | |||||||||||||||||
| Additional Gains (Recoveries)/Losses | — | |||||||||||||||||
| Total Realized Losses | — | |||||||||||||||||
Reserve Fund Information
| Demand Note Reserve Account | ||
| Beginning Balance | ||
| Deposits | 2,875,529.52 | |
| Accrued Interest | — | |
| Withdrawals | — | |
| Ending Balance | — | |
| 2,875,529.52 |
OVERCOLLATERALIZATION REPORTING
| Ending Overcollateralization Amount | (320,968.38 | ) | |
| Specified Overcollateralization Amount | 7,188,561.76 |
ADDITIONAL REPORTING ITEMS
| Cumulative losses as percentage of originial Pool Balance | 0.00000000 | % | |
| Cumulative losses as percentage of current Pool Balance | 0.00000000 | % | |
| 12-month rolling average of cumulative losses as percentage of original Pool Balance | 0.00000000 | % | |
| 3-month rolling average of Mortgage Loans 60+ days delinquent | 0.00268205 | ||
| Relief Act Shortfall | — | ||
| Gross Prepayment Interest Shortfall | — | ||
| Net Prepayment Interest Shortfall | — | ||
| Total outstanding principal balance of 3 largest Mortgage Loans | 1,372,644.55 | ||
| Draw Amount | 4,834,669.49 | ||
